24 June 2010
Counsellor of the Venezuelan Embassy speaks the threat of capitalism to Latin America

The Counsellor of the Venezuelan Embassy, Alvaro Sanchez, addressed a conference entitled Capitalism is the Crisis organised by the Morning Star newspaper.  Sanchez spoke of how decades of neo-liberal policies and deregulation, particularly during the 70s and 80s, had caused a huge increase in poverty as well as huge profits for the multinational companies who operated in the region. 

However, the Counsellor also underlines of the many positive initiatives that are taking place in Latin America today that challenge capitalism in the region.  He highlighted the many social advances that have taken place in Venezuela over the last decade in the areas of education, health and participatory democracy that would not have been possible under a government dedicated to capitalism.  Sanchez also spoke of how Latin America is counteracting the negative US influence and problems associated with capitalism by strengthening regional integration and cooperation.

Press Office of the Venezuelan Embassy in London
Wednesday, June 23, 2010